For what it’s worth, Elon Musk is having the time of his life sending cryptocurrency values up and down and people using them on an emotional rollercoaster. For instance, his last Twitter stunts, which hinted that Tesla might sell its Bitcoin, sent the currency tumbling.
We’re well into the crypto age and have been for years now, but people still do not fully know what to make of this. Some invest and lose, others do the same and win, but one reality remains: cryptocurrency is more and more present in our lives, and for those who are selling stuff, it might just be yet another source of revenue.
Tesla was the first major carmaker to announce it will accept bitcoin as payment for its products. Sure, it backed down since, citing environmental concerns (and causing another dive for the currency), but its gesture opened the doors for others to be more open-minded.
The most recent example comes from auction house Mecum, one of the largest organizations of its kind. In a statement released this week, it announced it would start accepting cryptocurrency for payment, using services provided by BitPay.
Technically, given how most of last year’s auctions were held online and not in person, such a move only comes naturally. For Mecum, if successful, the move would open up possible new income sources.
According to the auction house, the currencies accepted for payment in exchange for cars and motorcycles are pretty much all the major ones now on the market, including Bitcoin, Ethereum, and Dogecoin. Aside from those, Mecum will also be accepting what is considered as stablecoins, namely USD Coin, Gemini Dollar, or Binance USD.
No time will be wasted in implementing the new payment option, and buyers will be able to use their crypto as of this week when a massive auction is taking place in Indianapolis.